GBPUSD 1H: under 1.2310 will be more bearish

GBPUSD

OUTLOOK

The pound sterling pair against the dollar was able to achieve our main expected target at 1.2310 and is putting negative pressure on it, to support the chances of continuing the bearish tendency and heading towards achieving new declines that we expect to reach levels of 1.2266 and then 1.2200.


The descending channel continues to organize the expected downward wave, which is receiving support, taking into account that stabilized above 1.2310 will lead the price to begin recovery attempts and build an upward intraday wave targeting testing the 1.2435 areas initially.

Additionally : today news will affect the market .

support line : 1.2266 , 1.2200
resistance line : 1.2353 , 1.2400

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GBPUSD

UPDATE

As we expect the price will be continue at the bearish trend and already price reached our first target and now on the way to the second target .